Turkcell faces 527.7 million lira tax fine

January 02 2014 16:12:07

Turkcell faces 527.7 million lira tax fine

ISTANBUL

DAILY NEWS photo

Turkey’s leading mobile phone company, Turkcell, announced on Jan. 2 that it is facing a 527.7 million-Turkish Lira ($246 million) tax fine related to a special communications tax due for the 2008-2012 period.

In a statement to the Istanbul stock exchange, Turkcell said it would appeal against the demand.

The company’s shares dropped 7.49 percent in afternoon trading following the news.

The operator was hit by a tax levy of 350 million liras in 2010.

Quark.Models.Entities.Ancestor?.Title?.ToUpperInvariant()

Galatasaray hosts Fenerbahçe in title decider

Military spending pushes Russian economic growth up

Israel to end free trade deal with Türkiye

Short-term external debt at $175 billion

Home sales continue to decline but price increase slows again

Inflation expectations improve, says Finance Minister Şimşek

Türk Telekom issues $500 mln sustainability bond

Ministry aims for 30 pct energy saving in public buildings

WORLD

Protest after Peru classifies transsexuality as mental disorder

LGBTQ groups protested Friday outside Peru's health ministry after the government issued a decree listing transsexualism as a mental disorder.

ECONOMY

Boeing shareholders back outgoing CEO pay deal despite safety woes

Boeing shareholders voted Friday to back outgoing CEO Dave Calhoun's pay deal and reelection to the board, in an endorsement of company leadership as it faces heavy scrutiny over safety problems.

SPORTS

Galatasaray hosts Fenerbahçe in title decider

Leader Galatasaray will be looking to clinch the Turkish Süper Lig title in front of its own fans when it hosts closest challenger Fenerbahçe in a highly-anticipated “Intercontinental Derby” on May 19.